Tag Archives: cryptocurrency

There's a huge amount being written about Bitcoin, cryptocurrency, and blockchain with the focus on Bitcoin volatility. so I am going to be selective in posting. John Aziz is a good analyst and MMT-friendly. He sorts through some of the complication.azizonomics Bitcoin Is Failing As Money—But Bitcoin Cash Isn’tJohn Aziz

Peter Schiff, the guy who has been so wrong about everything, is now saying that bitcoin is going to zero. This is why you should probably buy every single dip.Remember Schiff's predictions?QE will cause hyperinflation. The Chinese will stop "lending" to us and interest rates will skyrocket. Gold is going to $10,000.And more.Bitcoin is not a bubble. It's a symptom of the world's desire to "de-dollarize." And while it will not become any kind of mainstream currency anytime soon because of its...

I wrote a piece on Forbes recently in which I described a bimetallic system of coinage and suggested how such a system might work - or rather, fail to work - for Bitcoin. These are the relevant paragraphs: In a bimetallic system, there are effectively two currencies which are linked by a fixed exchange rate set by fiat. At the end of the 19th century - the time of Bryan's speech - Britain's copper penny was worth 1/144 of one pound. Other denominations of coin were created by...

Here is a very familiar financial bubble, in pictorial form: And this is what it looks like, charted: In those days, of course, tulips at least had to be able to flower. But things have changed since then.There are three key stages in the lifecycle of a financial bubble:The "Free Lunch" period. A long, slow buildup of price distortion, during which investors convince themselves that rising prices are entirely justified by fundamentals, even though it is apparent to (rational) observers...